Why MicroStrategy Stock Tanked by 11% on Thursday
The shorts are coming for (NASDAQ: MSTR), and investors reacted accordingly on Thursday -- well, at least one short seller, which made no bones about what it currently thinks of the tech company-turned-Bitcoin (CRYPTO: BTC) accumulator. As a result, MicroStrategy's share price fell at a double-digit rate, closing more than 11% lower.
Kerrisdale Capital, an investment firm based in New York City, published a report lambasting MicroStrategy while recommending that investors go long on Bitcoin.
Kerrisdale cheekily sub-titled the report "Know When to HODL, Know When to FODL," a play on the "hold on for dear life" acronym that is a favorite of crypto investors.
Source Fool.com
Microstrateg.a New Stock
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